The new financial year 2025-26 is starting tomorrow i.e. 1 April 2025, and with this many important rules related to Mutual Funds, Credit Cards, UPI Transactions, Income Tax, and GST will change. These changes will directly affect investors, taxpayers, and the general public.

Therefore, if you are associated with mutual funds, credit cards, UPI transactions, or income tax, then you need to know about the changes in these rules so that you can avoid any inconvenience and adapt your financial planning according to the new rules. So let’s know about these big changes in detail.

New rules for GST and e-invoicing

From April 1, 2025, businesses with an annual turnover of ₹ 10 crore or more will be required to upload the e-invoice on the Invoice Registration Portal within 30 days of issuance of the e-invoice. Earlier this rule applied only to businesses with a turnover of more than ₹ 100 crore. Now by reducing this limit, small and medium-sized businesses will also have to come under the purview of this rule, making GST compliance more comprehensive.

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Central employees will get a fixed pension

Unified Pension Scheme (UPS) will be implemented under the National Pension System (NPS) from April 1, 2025. This scheme will guarantee a fixed pension to the employees of the Central Government. Employees who have completed at least 25 years of service will get 50% of the average basic salary of the last 12 months as pension. This scheme is a big relief for those employees who were worried about financial security after their retirement.

UPI ID may be blocked due to an inactive mobile number

The National Payments Corporation of India (NPCI) has directed banks and payment service providers (PSPs) to update their database by March 31, 2025. Under this, instructions have been given to remove recycled or closed mobile numbers. If your mobile number has been closed under the rules of the Department of Telecommunications (DoT), your bank and UPI app may remove it from their records, which may affect your UPI services. Therefore, ensure that your bank account is linked to an active mobile number.

No tax up to ₹10 lakh on sending money to children studying abroad

From April 1, 2025, there will be no TDS (tax deduction at source) on sending up to ₹10 lakh for fees or other expenses of children studying abroad under the Liberalized Remittance Scheme (LRS). Earlier, 5% TDS had to be paid on amounts above ₹7 lakh. This change is a big financial relief for those parents who are getting their children educated abroad.

Reward points and benefits will change

Many banks are also changing the rules related to credit cards from April 1. The reward points available on Swiggy with an SBI SimplyCLICK credit card will now be 5X instead of 10X, although 10X reward points will continue to be available on Myntra, BookMyShow, and Apollo 24|7. Reward points on Air India ticket booking using Air India SBI Platinum Credit Card decrease from 15 to 5 per ₹100 spent.

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